Obamanomics: Gas Prices Skyrocket in July
Gas prices skyrocketed last month. The average price of a gallon of gas zoomed up 26 cents, which makes Barack Obama’s reelection chances even murkier than they are already.
Of course, Obama is considering making us even weaker strategically in order to boost his political chances by reducing prices; last Thursday the Administration publicly discussed releasing oil from the government’s Strategic Petroleum Reserve. Shockingly, the international community criticized such a move:
Maria van der Hoeven, executive director of the International Energy Agency, said, "There is no reason for a release.”
But if there is another oil issue that complicates matters, such as refinery outages, hurricanes in the Gulf of Mexico, or, most of all, trouble with Iran, the prices may skyrocket even farther.
Mitt Romney had called for the firing of Energy Secretary Stephen Chu, Interior Secretary Ken Salazar, and EPA administrator Lisa Jackson before for their refusal to lift restrictions on offshore drilling and public land. The Obama administration has responded by defiantly whistling in the dark; in March. Obama said, “Anyone who tells us we can drill our way out of this problem doesn’t know what they’re talking about, or isn’t telling you the truth." If we can't drill our way out of this problem, how does releasing more oil solve it, either?
Gas prices are crippling the economy, as consumers have less money to buy other things. The answer is higher oil production. But Obama doesn't want to allow Americans to have a long-lasting supply of oil. Instead, he just wants them to rely on his all-merciful wisdom in releasing gasoline, drop by drop, when it most suits him politically.